Sales of luxury properties on the West Coast are picking up, and developers say it is due in part to confidence returning to the economy.
According to the latest Redbook published by Terra Caribbean, which details real estate sales in Barbados, 90 high-end properties were purchased in 2018 with a gross value of US$150 million (BDS$300 million). In 2017, total sales of 19 properties averaged around $90 million.
Veteran realtor Sir Paul Altman, whose company Altman Real Estate is one of the leading entities in the high-end luxury market, was very upbeat about the spurt in business.
“Throughout the market, foreign purchases were in the vicinity of BDS$300 million last year . . . . These sales are not only homes but for the purpose of investment. That is what is most exciting because once confidence returns in the economy and the country, it brings investors as opposed to just people looking to buy homes,” he said.(NS)
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